High Taxes Are Not a Prime Reason for Relocation

The Myth of the Rich Who Flee From Taxes “It’s very clear that, over all, modest changes in top tax rates do not affect millionaire migration,” he told me this week. “Neither tax increases nor tax cuts on the rich have affected their migration rates.”

The idea that rich people are more concerned about money they pay in taxes rather than the money they make or the services they utilize seems counterintuitive to anyone looking at marginal utility of income at the high end.